Resintech surged and touched to the RM0.48 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.50, followed by RM0.51. The downside support is marked at RM0.45. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.48

Target: RM0.50, RM0.51 (time frame: 2-4 weeks)

Exit: RM0.45
 

Source: AmInvest Research - 14 Jun 2021